I go mental with the stuff, the lakes I fish are so weedy I completely encase the hook, one nugget either side, wet and stuck together firmly while trying not to crush the ends so they maintain buoyancy. I need it to stay on all the way down to the deck and prefer it to suspend the hookbait temporarily before melting off. Not bothered about residue, my hook baits are normally either white or fluoro anyway.
Good tip that, I used to do that but got bored of having to tie another every time I got a cast wrong (which is frequently lol...).....